Poinciana Advisors Group LLC Invests $353,000 in General Electric (NYSE:GE)

Poinciana Advisors Group LLC bought a new position in shares of General Electric (NYSE:GE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,119 shares of the conglomerate’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric during the third quarter worth about $25,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the third quarter worth about $28,000. RPg Family Wealth Advisory LLC bought a new stake in General Electric in the third quarter valued at about $30,000. Hager Investment Management Services LLC bought a new stake in General Electric in the fourth quarter valued at about $27,000. Finally, Sugar Maple Asset Management LLC bought a new stake in General Electric in the fourth quarter valued at about $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GE shares. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Performance

Shares of NYSE GE opened at $197.39 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a 50 day simple moving average of $195.54 and a 200-day simple moving average of $183.82. The company has a market cap of $211.85 billion, a PE ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 12-month low of $131.91 and a 12-month high of $212.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.73%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is 24.04%.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.